While walking through the duty-free at Dulles International Airport in Washington, DC, I happened upon the price tag of an imported French purse. Looking around, I wondered how many travelers could afford a $2,000 handbag.At the gate, I found a seat and logged on to the internet, where I happened upon a story about the CEO of Nostrum Laboratories, Nirmal Mulye. In an interview, Mr. Mulye explained why he raised the price of an antibiotic by more than 400 percent, from under $500 to over $2,000.
“I think it’s a moral requirement to make money when you can … to sell the product for the highest price,” said the CEO. He went on to compare his pricing strategy to that of an art dealer who sells a painting for “half a billion dollars.”
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